A $16 million bonus to attract talent in China

At least one province in China isn't messing around when it comes to attracting talented minds.

In China's Liaoning province, the local government announced that it would reward institutions with $16 million if they can produce and attract scientists and engineers who are considered elite academics.

These elite academics, known as yuanshi, obtain the prestigious title through the approval of the China Academy of Sciences or the Chinese Academy of Engineering. China Daily reports:

"That’s the new method to promote scientific and technological innovation. Talent is the key to innovation," said a staff member at the Liaoning science and technology bureau who refused to be named.

The staff member said the bonus has been increased from 20 million yuan. To prevent fraud, the yuanshi must work and live in Liaoning rather than take a temporary post in the province.

Liaoning province currently has 51 yuanshi making it the seventh highest number among Chinese provinces.

But it's not just institutions that benefit. According to the American Institute for Economic Research, Chinese scientists working outside the country are given six-figure bonuses, along with free housing to move back to China.